By Kate Davidson and Kris Hudson | The Wall Street Journal
Sales of newly built single-family homes sank in June, although other recent housing data suggests underlying demand has picked up.
New-home sales fell 6.8% in June from a month earlier to a seasonally adjusted annual rate of 482,000, the lowest reading since November 2014, the Commerce Department said Friday.
Economists surveyed by The Wall Street Journal had expected a rate of 550,000.
The government said sales fell 1.1% in May, down from an initially reported 2.2% increase.
